Knight Capital CEO Thomas Joyce on Bloomberg yesterday. Pretty impressive interview given that NITE stock is down from 13 to below 3 in 24 hours, clients and counterparties have deserted the company, and the $440 million lost in 30 minutes of program trading gone hellishly wrong represents 4 years of profits for Knight.

The culprit - a new piece of proprietary Knight software for the NYSE that was installed Tuesday night without being tested first. As a result, in the worst-case scenario, Knight Capital might be forced to shut down. And honestly, it couldn't happen to a more deserving and more corrupt market maker. Fifteen years of constant bid/offer manipulation from these crooks. I can say with complete confidence that there will not be many tears shed across the trading community if and when Knight disappears.